BP oil spill costs to hit $40bn | Business | guardian.co.uk:
"BP said today it expects the cost of the Deepwater Horizon oil disaster to be $7.7bn (£4.8bn) bigger than previously thought, pushing the total bill to nearly $40bn.
The oil giant announced the new charge to cover the cost of the Gulf of Mexico spill alongside its financial results for the third quarter of the year. It blamed the delays that dogged its attempts to seal the leak, along with higher clean-up costs and legal fees.
The new charge knocked BP's pre-tax profits for the third quarter of 2010 down to $1.8bn, compared with $4.98bn a year ago.
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